Navy Federal Flagship Rewards Review: Rich Travel Perks, Low Cost
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Our Take
4.3
The card packs a lot of value for a comparatively low cost, making it an excellent and cost-effective choice for travelers.
Quick Facts
Pros & Cons
Pros
High rewards rate
New cardholder bonus offer
Flexible rewards redemption
Cons
Must be a member/customer
Has annual fee
The Citi® Double Cash Card – 18 month BT offer earns a net 2% cash back on all spending: 1% when you buy and another 1% when you pay your bill. The annual fee for this card is $0.
Compare to Other Cards
Annual fee$95 | Annual fee$0 | Annual fee$250 |
Regular APR16.24%-23.24% Variable APR | ||
Intro APRN/A | Intro APR0% intro APR for 15 months on purchases and balance transfers | Intro APRN/A |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
Full Review
When it comes to travel credit cards, you typically get what you pay for. But the Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card bucks that trend, offering benefits to rival those on cards with much higher annual fees.
For a modest annual fee of $49, you'll earn high ongoing rewards, not to mention a fat sign-up bonus that easily outstrips the cost of card ownership, plus plenty of travel-friendly side perks. For cost-conscious travelers looking for flexible rewards, it's an excellent choice.
One potential stumbling block: You have to join the Navy Federal Credit Union to apply, which may be a problem if you don't meet the eligibility criteria or just don't want the extra legwork.
Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card: Basics
Card type: Travel.
Annual fee: $49.
Sign-up bonus: Get our Flagship credit card and earn 30,000 bonus points (a $300 value) when you spend $3,000 within 90 days of opening an account. Plus, you could save on interest with a 1.99% intro APR on purchases for 6 months after account opening. After that, a variable APR between 10.24% and 18% applies. Expires on Jun. 30, 2022..
Rewards:
3 points per dollar spent on travel purchases.
2 points per dollar spent on everything else.
Points are worth 1 cent each and can be redeemed for things like travel, cash back, gift cards or merchandise.
APR: 1.99% intro APR on Purchases for 6 months, and then ongoing APR of 10.24%-18.00%, Variable APR.
Foreign transaction fee: None.
Other benefits:
Statement credit for Global Entry or TSA Precheck application fees, up to $100 once every four years.
Extended warranty service.
Secondary collision damage waiver coverage when you rent a car for 15 days or less and pay for the rental with your card.
Travel and emergency assistance. Travel accident insurance when you pay for the fare with your card.
Visa Signature benefits including discounts and perks on travel.
Benefits of the Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card
Big ongoing rewards
Aside from earning 3 points per dollar spent on travel purchases, the card also pays a higher-than-average 2 points per dollar spent on all other purchases. With points worth 1 cent apiece, that's an outstanding ongoing rate, considering the standard for many flat-rate rewards cards is 1.5%. Navy Federal also broadly defines travel to include things like hotel stays, airfare, train tickets, rideshare services, parking expenses, commuter transportation, amusement parks and golf courses.
Global Entry or TSA Precheck reimbursement
The Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card is one of several travel cards that offer a statement credit for Global Entry or TSA Precheck application fees. But it's also among the least expensive of those kinds of cards, in terms of annual fees. If you are looking for that kind of perk, this card offers a cheap way to get it.
Drawbacks and alternatives
Annual fee
It's comparatively modest: $49. But you might find the idea of paying anything for card ownership unpalatable. Depending on your spending patterns, you may do better with a travel card that charges no annual fee, such as the Discover it® Miles. It offers 1.5 miles per dollar spent on all purchases. Miles are worth 1 cent each when redeemed against travel purchases.
Credit union membership is required
If you're not a current or former member of the military or a Department of Defense employee, or if you don't have the required family connections, you can't get this card. And even if you do meet the qualification criteria, you may find it cumbersome to join the credit union first just to apply for a credit card. Instead, consider the Discover it® Miles, which earns 1.5 miles per $1 spent on all purchases. Miles are worth 1 cent each and can be redeemed for things like travel or cash back.
No transfer partners
With the Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card, you have plenty of redemption options: You'll get 1 cent per point whether you use points to book travel through Navy Federal's Rewards Service Center, redeem for cash back or use Pay with Points to cover purchases on your statement. But you can't transfer points to specific airline or hotel programs.
If you want a card with a high rewards rate, similarly flexible redemption options and transfer partners, consider the Capital One Venture Rewards Credit Card. Among other options, you can redeem points as statement credits against travel purchases or transfer them to several loyalty programs , generally at a rate of 1 Venture miles to 1 mile or point. The Capital One Venture Rewards Credit Card earns 2 miles per dollar on purchases, and a mile is worth 1 cent when redeemed for travel. It also comes with a Global Entry or TSA Precheck application fee reimbursement.
For a look at how these cards compare versus the competition, see NerdWallet's roundup of the best credit cards to get.
Is the Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card right for you?
If you're looking for a travel credit card with rich benefits at a low cost, yes. The stellar rewards rates, generous sign-up bonus and travel perks make the Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card a steal for the price.
Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
